Options for Inaccurate Post-Dispute Reporting

[Anonymous]

I have a charge-off that I disputed due to inaccurate payment history (CO reported August 2018 and it was actually June 2018)

They responded and updated it to something was that was also inaccurate but in a different way (reported the account closed in June 2020 when it was closed in June 2018).

I disputed again and they updated with new payment history that was inaccurate (reported charge-off in Dec 2020).

They've been also doing the same thing with another bureau although their latest update is favorable to me.

What are my options to get this corrected? Every dispute turns up something different and none of them are accurate and I have tried different ways of disputing (file upload with proof, phone, and online). One would think at some point if they keep reporting inaccurate information they'd be forced to delete it.

Thanks!

[Anonymous]

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@Anonymous wrote:

I have a charge-off that I disputed due to inaccurate payment history (CO reported August 2018 and it was actually June 2018)

They responded and updated it to something was that was also inaccurate but in a different way (reported the account closed in June 2020 when it was closed in June 2018).

I disputed again and they updated with new payment history that was inaccurate (reported charge-off in Dec 2020).

They've been also doing the same thing with another bureau although their latest update is favorable to me.

What are my options to get this corrected? Every dispute turns up something different and none of them are accurate and I have tried different ways of disputing (file upload with proof, phone, and online). One would think at some point if they keep reporting inaccurate information they'd be forced to delete it.

Thanks!

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stop disputing.

Every time it updates, it hits your scores.

If you have prrof of the "innacuracues" then you need to submit them to have them corrected. Simply being incorrect will not get the account removed. They will only fix it. The more you dispute, the more they will deem this as frivolous disputing.

There is a lot of info regarding date on the credit report entry and some can be confusing and may not directly correlate to what you think they mean.

Jusy because it was "reported" to the CRA in August, that is not the same as that was *when* the CO happened. You would find that in the payment history. Mine are all different and that is actually 100% correct. This will not get your CO deleted.

[Anonymous]

I already said I had proof and submitted the proof. They still reported inaccurate information after that proof. This isn't an issue of me randomly deciding to dispute for no particular reason.

I was also talking about the payment history. I'm saying in one instance they reported the charge-off (in payment history) as August 2018, another December 2018, and another as June 2020. None of those are correct (June 2018).

Thanks for the advice about not disputing but that really seems unwise when the information is not correct.

[FireMedic1]

Nothing can change the DoFD. What was the oringinal CO date. Remember before its charged off. Theres a 30, 60, 90, and usually 120 day late before they place a charge off. You can wipe all the lates off completely. But the highest ding will still be the CO over all others.

[Anonymous]

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I wouldn't worry about the date of the CO, what really matters is the date of first debt (DOFD). That will be the month that you were first late that eventually led up to the CO. As long as the DOFD is correct with the CRA's, then that is the date that the 7 year clock runs off of. 

As far as correcting the information that has become inaccurate (since disputes are not working), you have several options.

1) Call the creditor and talk it out with them. Maybe they are confused (they shouldn't be), but you might have better luck talking with them and walking through the various dates so they can get an accurate record.

2) File a complaint with the BBB. See if they have a history of responding to BBB complaints. If they do then file a complaint with the BBB and lay out your case, evidence, and recent actions. The BBB can mediate, but they can not take or force action.

3) Send a letter CMRRR to the creditor. Provide your evidence to the facts and records of your disputes. Tell them they are in violation of the FCRA and they either need to correct the inaccuracies or delete the TL from your credit reports.

4) Sue them for violation of the FCRA. Make sure you have all of the evidence (the accurate information, the disputes that you filed, BBB complaints, correspondence you sent and evidence they received it, etc) and consult an attorney. 

5) File a complaint with the CFPB. Similar to the above scenario, collect all the evidence and file a complaint. No need for an attorney, but the CFPB is a government entity and as such can force action to be taken.

Good luck!

[Anonymous]

Thanks for the advice!

I did try CFPB but the case was closed as they said I need to file my complaint through FDIC and I haven't pursued it further yet.

I also contacted the creditor directly (emails with proof to higher ups) and it appears as though they changed both EQ (I mentioned this one in the OP) and TU (after my post)  in a way that's more favorable to me than it actually should be, but the problem one has been EX anyway.

I'll probably call EX once more to see if it can be sorted out then pursue the rest of your ideas.

[RobertEG]

The date that a charge-off is taken by a creditor or business is NOT reported to a CRA.  The common credit reporting manual used by the big-3 CRAs does not provide any code for reporting/storing the date that a CO is taken.

Charge-off reporting can first be made at any time after a CO has been taken, and can be reflected in several different ways.

Thus, how and what is being reported by CO is critical to any dispute or accuracy issue.

First is the reporting of curent status (as opposed to prior monthly status information, which is done under the payment history profile).

The CRA credit reporting manual permits the current status to be reported either as number of months of delinquency, such as 30-late, 60-late, etc., OR, if the account has also been charged-off, as CO, which designates that the account is seriously delinquent, but does not state the number of days delinquent.  The number of days delinquent is separately determined based on the separately-reported DOFD, which must be provided to the CRA once a CO is reported.

Second is the reporting of prior monthly payment history profile status.

Similar to reporting of current status, prior monthly status can, after a CO is taken, be reported as CO.

Thus, multiple CO designation can be reported under payment history profile, and does not designate that multiple charge-offs were taken, or that a CO was first taken in that particular month.

Additionally, once a CO is taken, the creditor or business can also report the original amount of the debt at time of CO.  That amount is separately stored as a sticky, and contiues to report even if the currernt status becomes one of non-delinquency.

Dispute of the accuracy of a CO reporting based on the month reported under a payment history profile thus involves only two factors.

First, was the debt delinquent during that month, and second, had a charge-off been previously taken at ANY prior time.

A dispute does not relate to any reporting of the month a CO was actually taken.